1038 Dewey Avenue

Los Angeles, CA 90006

  • 0 Bed(s)
  • 0 Bath(s)
  • 5,216 Sqft
  • 5908
    Sqft(Lot)
$2,180,000

Description

Prime 6-unit investment property in the heart of koreatown – 6% cap rate & no city rent control!



this rare 6-unit apartment building, built in 1989, is a prime investment opportunity in los angeles' koreatown, one of the city's fastest-growing and most sought-after rental markets. offering a strong 6% cap rate, this property is strategically located near crypto.com arena and wilshire boulevard, ensuring high demand from tenants seeking a central, vibrant location.



property highlights:

unit mix:

two large 3-bedroom, 2-bath units on the second floor, each with two separate entrances—perfect for rental flexibility and maximizing income.

four spacious 1-bedroom units on the third floor, ideal for steady rental demand.

recent upgrades: the property has been improved while maintaining rents below market, offering immediate upside potential.

no la city rent control (rso): built after 1978, this property is not subject to city rent control, allowing for greater rental income growth and management flexibility.

prime location & investment potential:

koreatown continues to be one of the strongest rental markets in los angeles, boasting rapid appreciation and increasing rental rates. with top-tier restaurants, shopping, nightlife, and entertainment just minutes away, tenant demand remains high. additionally, the proximity to crypto.com arena, wilshire blvd., and major transit hubs enhances long-term value.



this is a rare chance to acquire a high-income-producing asset in one of la’s most dynamic submarkets. don’t miss out! contact us today for more details.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    48646161

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

    Interior Features

    • Roof : Shingle
    • Fireplace: None

    Cooling Features

    • Wall/Window Unit(s)
    • Air Conditioning

    Fireplace

    • Fireplace Features: None
    • Has Fireplace: 0

  • Building Information

    • Year Built: 1989
    • Building Area Total: 5,216
    • Roof: Shingle

    Security Features

    • Carbon Monoxide Detector(s),Security Gate,Smoke Detector(s)

    Pool Features

    • None

    Laundry Features

    • None

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.1356
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 5908

  • Listing Price Information

    • Original List Price: 2,180,000
    • Listing Contract Date: 2025-02-17

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 5078013018

  • Garage and Parking

    • Garage Description: Detached Carport

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable
    • Tenant Pays: Electricity,Gas

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: KREA - Koreatown
    • Directions: Olympic Blvd. Dewey Ave.
    • Zoning: LAR4
    • Source Property Type: Residential Income
    • Area: KREA - Koreatown
    • Property SubType: Apartment

    Building and Construction

    • Property Age: 36
    • Common Walls: 2+ Common Walls
    • Structure Type: Apartment
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: 1
    • Property Attached: Yes
    • Levels or Stories: Three Or More
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BuyOwner last updated this listing 02/25/2025 @ 09:16

  • MLS: PW25036101
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is for sale, it has 5,216 sqft, 5,908 sized lot, and 8 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Los Angeles , in zip code 90006, this Los Angeles County Home are nearby neighborhoods.